BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Stock Position in Honeywell International Inc. (NASDAQ:HON)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in Honeywell International Inc. (NASDAQ:HON) by 26.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 317,837 shares of the conglomerate’s stock after selling 116,579 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Honeywell International were worth $67,868,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LGT Group Foundation purchased a new position in shares of Honeywell International in the 1st quarter worth $26,000. Scarborough Advisors LLC purchased a new position in shares of Honeywell International in the 4th quarter worth about $27,000. Richardson Capital Management LLC acquired a new position in shares of Honeywell International in the 1st quarter valued at about $35,000. Financial Connections Group Inc. purchased a new stake in shares of Honeywell International during the 2nd quarter worth about $38,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Honeywell International during the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 75.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of Honeywell International in a research report on Friday, September 6th. They set an “equal weight” rating and a $210.00 price target on the stock. Royal Bank of Canada decreased their target price on Honeywell International from $218.00 to $214.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. UBS Group upgraded Honeywell International from a “sell” rating to a “neutral” rating and raised their target price for the company from $175.00 to $215.00 in a report on Monday, June 10th. Citigroup boosted their price target on Honeywell International from $243.00 to $244.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Finally, Wells Fargo & Company lowered their price objective on shares of Honeywell International from $220.00 to $215.00 and set an “equal weight” rating for the company in a research report on Friday, July 26th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $223.13.

Honeywell International Stock Performance

Shares of HON opened at $203.77 on Tuesday. The firm has a market cap of $132.69 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.32 and a beta of 1.03. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 1.19. The business’s 50 day moving average is $204.26 and its two-hundred day moving average is $203.49. Honeywell International Inc. has a 52-week low of $174.88 and a 52-week high of $220.79.

Honeywell International (NASDAQ:HON) last posted its quarterly earnings results on Thursday, July 25th. The conglomerate reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.07. The firm had revenue of $9.58 billion for the quarter, compared to analysts’ expectations of $9.41 billion. Honeywell International had a net margin of 15.49% and a return on equity of 36.87%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.23 earnings per share. Analysts forecast that Honeywell International Inc. will post 10.11 EPS for the current fiscal year.

Honeywell International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 16th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, August 16th. Honeywell International’s dividend payout ratio is currently 50.06%.

About Honeywell International

Honeywell International Inc engages in the aerospace technologies, building automation, energy and sustainable solutions, and industrial automation businesses in the United States, Europe, and internationally. The company’s Aerospace segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; and thermal systems, as well as wireless connectivity services.